22nd Nov, Morning Brief

Market will open on a positive note as SGX Nifty is trading up by 24 points.

After yesterday's dragon fly doji candle made on daily chart, it confirms that Nifty is facing resistance to close above 10350-10360 zone to proclaim to make new high in this move.

🎯 News & Impact 🎯

🎯 NCC :
BGR Infra and NCC win contract relating to Min development and operation of Talaipalli Coal block.

🎯 Ajanta Pharma :
Ajanta Pharma received the final approval for Clonidine Hydrochloride Extended Release Tablets from US FDA.
Positive for the stock.

🎯 Satin Creditcare :
BM on 24th November To consider and approve issuance of securities on private placement basis, to persons belonging to Promoter and Non Promoter category.

🎯 Adani Enterprises :
The company is close to securing a deal with Chinese enterprises and export credit agencies to fund both the mine and the rail link. Sources.

🎯 New India Assurance :
Movie Padmavati has been insured by NIA under production and distribution for Rs. 300 crore but company said that there has been no risk due to delays in the release of movie.

🎯 Reliance Capital :
Reliance Capital raises Rs.2500cr from banks, financial institutions.

🎯 TeamLease Services :
T Rowe Price picks up 5% in TeamLease Services.
Positive for the stock.

🎯 SAIL : 
Union Steel Minister Birender Singh said the SAIL and ArcelorMittal will sign an MoU for forming a joint venture to set up a 1.5 million tonne per annum auto-grade steel plant, in the next few days. 
Positive for the stock.

🎯 Mahindra & Mahindra :
Ford Motor and its Indian partner Mahindra & Mahindra could create their own electric car line in the country to help battle pollution from the vehicles clogging India’s roads
Positive for the stock.

🎯 Canara Bank :
The bank has decided to go for monetisation of non-core assets by selling its shares in part or full in Canara Robeco Asset Management Co, Canbank Computer Services and Can Fin Homes. 

🎯 Lakshmi Vilas Bank :
Lakshmi Vilas Bank to consider rights issue on Friday.

🎯 Dredging Corporation :
Dredging corporation of India employees go on strike to protest the strategic sale of Government equity.

🎯 Bank Of Baroda :
Bank Of Baroda Approves Proposal To Raise Equity Capital Worth Rs.6,000 Cr Via Rights Issue Or QIP.

🎯 Telecom Sector :
The telecom regulator has proposed relaxing spectrum holding limits.
Positive for the sector.

🎯 Leather Sector :
Cabinet May Consider Package For Leather Sector today.
Positive for the sector.

Edited by Sharp.
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